Propellerhead Software, the makers of the popular Digital Audio Workstation software Reason, have released an open beta of their latest software Record. You can obtain a trial licence key and download it here.

The software will be officially released on the 9th of September, for a recommended retail price of US$299.

I have not yet tried it out, but the word on the street says that it is heavy on CPU usage, so hopefully you have a dual-core or quad-core processor installed in your system.